Picture: FREDDY MAVUNDA
Picture: FREDDY MAVUNDA

"How Grant Pattison Saved Edcon" (Cover Story, July 4-10) is optimistic, to say the least. The CEO certainly hasn’t saved the company — he just got lucky.

Shutting down stores and downsizing to save money is textbook stuff that a 15-year-old can come up with. And the funds secured from the Unemployment Insurance Fund fall under the category of luck, thanks to the hopeless situation the economy is in.

The article doesn’t mention the biggest problem, other than debt, that has placed Edcon in the dire position it’s in: the shocking service that customers have to put up with. This is the case at all stores, but especially at Edgars and CNA. It will become worse now that the unions have Edcon in their pocket. You can train staff as much as you like, but if they know that the chances of being fired are slim to none, service will remain what it is (and has been for ages): shocking.

To write a big story about a CEO who has been in charge for a few months and is apparently turning the company around due to the lottery ticket from the Public Investment Corp (PIC) is poor journalism, to say the least. The landlords and the PIC have "bought" a lot of worthless shares.

R Winter
Century City, Cape Town

The FM welcomes concise letters from readers. They can be sent to fmmail@fm.co.za